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Stockholders’ Equity (Tables)
9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Share-based Compensation Expense
Total share-based compensation expense related to share based awards was comprised of the following (in thousands):
 Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Research and development expense$3,083 $5,854 $11,979 $17,712 
General and administrative expense7,279 8,013 23,927 23,230 
Total share-based compensation expense$10,362 $13,867 $35,906 $40,942 
Share-based compensation expense by type of share-based award (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Stock Options$8,357 $10,408 $27,784 $31,222 
Employee Stock Purchase Plan139 87 330 303 
RSAs and RSUs1,866 3,372 7,792 9,417 
$10,362 $13,867 $35,906 $40,942 
Schedule of Fair Value Assumptions for Stock Options The fair value of the stock options granted during the nine months ended September 30, 2024 and September 30, 2023 was determined with the following assumptions:
September 30, 2024September 30, 2023
Expected volatility
75.3% - 78.4%
77.5% - 80.8%
Average expected term (in years)
5.9 - 6.1
5.5 - 6.1
Risk-free interest rate
3.7% - 4.6%
3.4% - 4.2%
Expected dividend yield— %— %
Schedule of Fair Value Assumptions for ESPP The weighted average assumptions used to estimate the fair value of stock purchase rights under the ESPP during the period ended are as follows:
Ended September 30, 2024
ESPP
Volatility107.3 %
Expected term (years)0.5
Risk free rate5.4 %
Expected dividend yield— 
Schedule of Unrecognized Compensation Cost
Total unrecognized estimated compensation cost by type of award and the weighted average requisite service period over which such expense is expected to be recognized (in thousands, unless otherwise noted):
September 30, 2024
Unrecognized
Expense
Remaining
Weighted-Average Recognition Period
(years)
Stock options$68,108 2.41
RSUs21,453 2.77